Ok…Looking at entering the property investment market. Tax man says yes, Bank says yes so I'm currently looking at a number of properties in and around my location (Bathurst NSW), I know the market relatively well but after doing some online research I see better value/growth potential else where, in some cases QLD and VIC. Interested in hearing from investors that do invest in property inter-state and what difficulties arise from doing this. Is a personal inspection of the property recommended ( I would find it difficult to drop everything and travel to WA for example). Are there reliable "guns for hire" that can regularly inspect your property at a reasonable rate. I'm looking to enter the market with a modest price range of about 300 – 350k….with a view to holding for the long term for capital growth and reinvestment using the equity (ie never selling).
cheers
HI i have two, soon to be three, investment properties that I have never physically been to or seen. I do my research on an area and if I am happy with the area then I look for a suitable property, make an offer and have the building and pest inspections carried out. If these all come back good then I go ahead. A good idea is to talk to a number of real estate property managers to find out from them which areas or property types rent well as well as what and where to avoid. i find that they are more reliable than a selling agent because they are the ones that have to find tenants for the landlord and eitehr deal with a stressed owner who needs the property rented in order to meet mortgage payments or dealing with less than quality tenants and the associaed problems. cheers Sonya
Ok, have done a little more study now and mind you I am also a little more cautious as a result. I have just read some reports that state that the Australian property market is overvalued as much as 50%. This is according to OECD reports and another guy buy the name of Daniel Denning (yank), although this guys "expose'" reads like some kind of dire exaggeration I am left feeling a little less confident in Australian residential property. Please tell me I have nothing to worry about…please
I have an investment opportunity in Brisbane for you.(or someone you know) I am newly separated from my husband and am DETERMINED to keep my house. I am looking for an investor to buy a share of my house. Property in Brisbane is booming and the value of this home has increased dramatically in the last 4 years. I would like to sell a percentage of the house and continue living in it with my 2 sons, as well as continue with the upkeep etc to ensure the continuing increase in value.Let me know what you think??
llonka
How are you going to do this ?
If you sell a part share then whoever you sell the property to will need to join on any loan / mortgage agreement that you currently have. As an investor with cash that doesnt sound like a great proposition to me.Richard Taylor | Australia's leading private lender
Richard
Thanks for your comment. I am not sure about the mortgage etc, but this is how I see it. For an investor with cash, why not invest in a share of a property(in a booming area) rather than the share market.
Share properties are quite common in the UK. I found this info on the internet. It is usually aimed at people who can't afford a mortgage on their own. You might be able to advise me otherwise, as you obviously have experience in this field. I appreciate and welcome your assistance and comments.
Another option might be to sell the entire property, provided that you can purchase an option to buy it back again. Take a look at lease options if this sounds relevant to your situation.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
ps lease options are probably more commonly referred to as "rent to buy"
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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